Oil India’s stock is factoring in the upside from upmove in crude oil prices post OPEC's decision to cut Production, whereas the risk to disciplined implementation of the same still remains, said Antique in a note on Friday.Sanam Mirchandani | ET Bureau | December 24, 2016, 08:34 IST

Oil India’s stock is factoring in the upside from upmove in crude oil prices post OPEC's decision to cut Production, whereas the risk to disciplined implementation of the same still remains, said Antique in a note on Friday.

“We downgrade OINL to a HOLD with a Mar'18 TP (target price) of Rs 465/share, as a) we doubt OPEC ability to influence price on sustainable basis and b) believe that OINL is factoring in a net realization of $55/bbl over FY18-19 and a net realization higher than that is less likely, irrespective of a higher benchmark price, on plausible higher subsidy payout,” said the brokerage.

On Friday, shares of Oil India ended down 0.4 per cent at Rs 436.90 on the Bombay Stock Exchange (BSE). So far this year, shares of Oil India have gained 15.4 per cent.